3rd Rwanda-Zimbabwe Business Forum was a success

Rwanda hosted over 90 business leaders from Zimbabwe as they engaged with the Rwandan private sector to delve into trade and investment opportunities at the Rwanda-Zimbabwe Business Forum.

The forum, a continuation of the successful 2021 and 2022 editions in Kigali and Harare, is a platform for interactive sessions on business and investment opportunities in the two countries. It specifically emphasizes key sectors with significant growth potential, such as agriculture and agribusiness, construction and real estate, manufacturing, mining, finance, e-Government services, and education, among others.

The Minister of Foreign Affairs and International Cooperation of Rwanda, Hon. Vincent Biruta, officially opened the forum:

“As we navigate a complex global landscape, it is essential to identify and capitalize on emerging trends and market dynamics. Rwanda and Zimbabwe, with their unique strengths and capabilities, have much to offer the world. Leveraging our respective comparative advantages, we can create a cycle of growth and prosperity that benefits both nations. We must continue to explore avenues to enhance bilateral trade and investment, particularly in sectors such as manufacturing, finance, real estate, and construction. Improving the ease of doing business is paramount to attracting more investment and fostering job creation. Rwanda stands ready to further collaborate with Zimbabwe in these crucial sectors for mutual benefit.”

Zimbabwe Deputy Minister of Foreign Affairs, Hon. Sheillah Chikomo, noted:

“This engagement presents an opportunity to share up-to-date and improved information on trade and investment opportunities between our two countries. We are at your service and will be pleased to assist businesses from Zimbabwe and Rwanda with trade information to increase market coverage for goods and services.”

The previous Rwanda-Zimbabwe Business Forums have been instrumental in fostering business collaborations. They have yielded many positive outcomes, including the establishment of over 8 Rwandan energy, IT, agro-processing, recreation, and general trade companies in Zimbabwe. Additionally, Rwandan educational institutions have been able to employ 153 Zimbabwean teachers, further enhancing the cultural and educational exchange between the two nations.

On the other hand, Zimbabwean companies invested over US$38 million in Rwanda.

The economic impact of the Rwanda-Zimbabwe business collaborations is significant. Over the past four years, Rwanda’s imports from Zimbabwe have surged by 52%, while exports to Zimbabwe have seen an 8% increase. This growth is further underscored by the successful implementation of more than 15 energy power projects, demonstrating the tangible benefits of bilateral trade and investment.